Marketing Plan:
CIRQUE DE SOLEIL
Executive Summary
An Executive summary is a single most important document of the marketing plan and should not exceed a single page and should (in separate paragraphs) consist of:
(i) A very brief background of the organization
(ii) A brief background of the purpose of the study / project / marketing plan
(iii) It must to convey the highlights of the plan and give the distinctive features of:
(a) Your approach
(b) Brief content
(c) Action plan and
(d) Recommendations
In short, it is like the PREFACE of any textbook or novel that is published. It has to induce and impress the reader that the contents are outstanding. It gives the reader an idea of whether they want to read the report or not.
Table of Contents
(1) Section headings-
(2) Annexure – this should include all tables / charts / questionnaire – if any
(3) All topics under the section headings to be page numbered
Introduction
Each company is subject to different elements which influences the performance of the business. To be able to ensure success, the company must be able to know how to surpass different market challenges in the market environment. In order to do such, different approaches and strategies must be developed and implemented. In this kind of condition, one of the important aspects to consider is a marketing plan.
It can be noted that marketing plan enables a company to analyze deeply the situation of the company, its resources, and its competitive advantage. Furthermore, marketing plan also enables the company to identify their target market and the needs of the potential clients. It also served as their basis for developing new products and services ( 2007). Moreover, the marketing plan also facilitates such significant business approach by outlining the applicable strategies of promotions and sales ( 1997).
It is said that strategic marketing plan should be noted to know the ability of the company to obtain competitive advantage. An efficient an marketing plan consists of different factors, that determine the objectives of the company as well as the methods on how such objectives will be achieved. Primarily, the main objective of this paper is to discuss a marketing plan for CIRQUE DE SOLEIL. This paper will analyse how the company can enter the Chinese market. Herein, a comprehensive marketing plan for the company follows.
Business Overview & Overall Marketing Plan
Cirque du Soleil which is also known as Circus of the Sun is an entertainment industry which is base in Montreal, Quebec Canada and located in the inner-city region of Saint-Michel. The company was founded by and in 1984 in Baei-Saint-Paul. The company started as a performing group and through the grant provided by the government, the company has surpassed the challenge in terms of financial aspects.
each of the performance of the company is a synthesis of circus approach from different parts of the world with their own central theme and storyline. The company expanded through 1990s and 2000, going from one show with only 73 employees to having more than 3,500 employees across 40 nations and produces shows in every continent except for Africa.
With their plans to entertain people from different parts of the world, the company is now aiming to expand their performances at Chinese market.
Strategic Marketing Focus:
In order for the company to have efficient expansion approach, it is essential that the management of CIRQUE DE SOLEIL should create first a comprehensive and complete marketing opportunity plan to determine their capabilities of the company in the marketplace where the company wishes to expand (2004). One of the factors to consider is the situational analysis of the marketplace.
· Mission/Vision
Cirque du Soleil is an international company which is dedicated to the generation, production, and performance of entertaining and artistic works, with the mission of invoking the imagination, the senses, and the emotions of the audiences all over the world. The vision of the company is to produce new shows annually to meet audience expectations.
· Goals and Objectives
The main goal of the company is to be able to produce high-quality artistic entertainment to audiences on different parts of the globe with different cultures. Their aim is to be the number one entertainment provider with over 3,500 employees who are professional in their fields.
· Core Competencies
Based on the given case, it ca be said that the core competencies of CIRQUE DE SOLEIL includes the management and their employees and staffs. Their main competencies are the ability of the management to determine the possible demands of their target audiences in terms artistic entertainment. Ensuring the quality of their performances shown for their target audiences is another core competency of the company over their rival companies.
In addition, the ability of the company to efficiently control all its resources from their human, physical, and financial resources is another core competencies that can be attributed to the management of CIRQUE. The employees and staffs who are highly motivated and devoted to perform well during their performances is another important aspects for assuring the success of the company to enter Chinese market. The highly trained performers are also a leap against their competitors. In this regard, the company has been able to gain loyal audiences from different parts of the world. In addition, the marketing personnel of the CIRQUE have the ability to think of the most effective ways to market and promote their shows.
From the core competence aspects, one of the strengths of the company is their fast and intensive transfer of operational capabilities across the expanded markets, which allow the company to benefit from learning curve, operational and other cost reduction benefits. In addition, the company also has the ability to develop new innovative solutions to meet changing demand of the audiences at different parts of the world. From the portfolio perspective, the core competencies of the company are its experience of international operations.
· Internal/External Environment and Competitors analysis
CIRQUE DE SOLEIL’s internal and external environment will be analysed through the use of SWOT Analysis. § Internal Environment Strengths
As compared to the industry competitors of CIRQUE DE SOLEIL, the company has been able to preserve their artistic tradition and promote their talents and performances to international market. Having talented employees are the major strength of the company against their competitors. Hence, CIRQUE will have the assurance of gaining customer loyalty and have a good reputation.
Weaknesses
Entertainment industry today has been able to gain competitive position in the business market. However, the problem with this kind of business is that the emergence of competitors has immediate effect to the performance. In line with
However, the problem with this is that the emergence of competitors has an effect to the performance of the company. In line with CIRQUE DE SOLEIL, the company is facing some weaknesses, and one of their weaknesses is in terms of their story. Accordingly, the intensity as well as the beauty of the performances of the talents of Cirque overshadows any other stories and some audiences may view this as nonsense ( 2008). this may affect the competitive position of the company in the chinese market or any international market. In addition, another weakness is their inability to manage and promote their business in any other medium of advertisements.
§ External Environment Opportunities
Since CIRQUE DE SOLEIL is not that familiar with the local Chinese market, conceptualizations of the value propositions of their performances and entertainment are highly in synch with the traditional culture and entertainment in the Chinese market. In this regard, marketing approach come relatively easier to CIRQUE DE SOLEIL management to enter Chinese market to reach their target market easily. Such market situation should be taken advantage by the management to gain competitive edge against other entertainment industries, which are performing in China.
Threats
In terms of the threats, one of the threats facing Cirque is with regards to the expenses and the inability to provide enough financial resources for each performance to be made within the specific market place. Aside from these, the threat of the exiting entertainment company may also affect the market entrants of Cirque at Chinese market.
The Marketing Plan – an appraisal and analysis.
· Target Market
Of all the elements of the marketing plan, perhaps one of the most overlooked but most critical element is the target market definition. Accordingly, target market is a homogenous group of individuals or organization in which the company wishes to appeal to. There are two basic targets for specific products to services, or in this case, entertainment audience: the user and the non-user segments. Hence, there are also two business and marketing decisions that a firm must considered in light of their basis targets.
For Cirque de Soleil, their market can be segmented into three target populations:
- Individuals: people who are a fan of entertainment and artistic shows.
- Families: a group of people, either friends or a group of nuclear relatives who are fond of watching entertainment and artistic shows together.
- Tourists: those travelers who wish to see some entertaining and quality shows and performances.
The Cirque’s audiences include those individuals who want to be entertained and who want to see some spectacular shows with excellent artistry. Age is not the most defined demographic for these target audiences; all age groups may enjoy artistic and entertaining shows. For this company, the most defined client base is their income. Cirque has been very successful in mixed-use and high rent urban areas. Such areas have a large day and night population which consists of business people and families and also some tourists. Integrating several key demographic aspects, Cirque arrives at a profile of the primary target market as follows:
- Sophisticated families who live nearby.
- Professionals who work close to the location.
- Tourists who wants to be entertained.
· Intended Strategies
It can be noted that the marketing context has been defined as the vital aspects to achieve organizational and company objectives and it rests on customer orientation, marketing context, coordinated marketing, and profitability. In a company like Cirque, the firm has to try to attain this level of marketing position as a way of staying and maintaining sustainable competitive advantage. In this regard, the company must be able to determine an efficient and effective marketing approach to be successful in the Chinese market.
· Conclude with a plan based on the analysis of all the above
CP&MR: After identifying and defining your target market and strategies that you as a marketing manager will unfold; you can conclude this section by dovetailing all the issues raised in the different tasks as guidelines in the assignment
Needless to mention that in the above sub-sections your investigation should evidence exhaustive research, e.g. this can be done through qualitative and quantitative techniques, surveys, questionnaire and structured interviews (evidence), sampling methods etc.
This is a useful practice for the dissertation stage of the programme. Quality of research investigation and presentation of outcomes must be decisive and unambiguous. Your appraisal and analysis of the results must clearly flow sequentially from the preceding sub-section.
Evaluation / Recommendations & Way Forward
E: What are the success criteria? How will you measure success of the plan? By monitoring progress, you can judge the success of the marketing plan. If some of the strategies are not working out, try to determine why. Is the strategy flawed? Is there a problem with implementation or timing? How can you refocus and move on?
Areas for Improvement / Restructuring the marketing set-up / any other corrective action
R & WF: This should be an action plan and related or linked to the objectives set out. You can put them in point form with time scales
Implementation Plans & Budget
IP: Build up an Implementation Plan post evaluation. Tasks required to implement and monitor each strategy are listed in this section. With each task, the person responsible for the task and a completion target date are indicated. Having a plan of action with specific tasks ensures that the details are clear and that specific persons are accountable.
Tasks required to implement and monitor each strategy could be listed in this section. With each task, the person responsible for the task and a completion target date may be indicated. Having a plan of action with specific tasks ensures that the details are clear and that specific persons are accountable.
B: How much will the activities defined above cost? Provide an estimate. Can you provide revenue forecast? Explain the assumptions on which the forecast is based and consider various (best case, worst case) scenarios. Since many Functional Centres now operate as cost centres, if not profit centres, this component of the plan is extremely important.
Summary / Conclusion
S: Articulate the central issue considered and the selected pertinent areas taken for consideration. You should incorporate a brief critique of what was done and the challenges ahead are required to be included
C: The contents of this section should naturally flow from all the above
Annexure – Tables & Charts
Credit:ivythesis.typepad.com
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